This file is indexed.

/usr/bin/sensible-pager is in sensible-utils 0.0.9ubuntu0.14.04.1.

This file is owned by root:root, with mode 0o755.

The actual contents of the file can be viewed below.

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#!/bin/sh

${PAGER:-pager} "$@"
ret="$?"
if [ "$ret" -eq 126 ] || [ "$ret" -eq 127 ]; then
more "$@"
ret="$?"
	if [ "$ret" -eq 126 ] || [ "$ret" -eq 127 ]; then
		echo "Couldn't find a pager!" 1>&2
		echo "Set the \$PAGER environment variable to your desired pager." 1>&2
		exit 1
	fi
fi